Forex Today: USD Edges Lower as Risk-On Sentiment Prevails

Sari Holtz

Australian dollar hits highest level since March 2018.
 

  • The Australian dollar hit a three-year high against the U.S. dollar as the Aussie hit a high of $0.8792 before retreating slightly during Monday's Asian trading session. The dollar also hit a three-year low against the New Zealand dollar.
  • The U.S. dollar tends to be considered a safe-haven asset, but as investors look towards an economic recovery prompted by declining COVID-19 numbers and rising vaccination rates, it has remained sluggish.
  • The British pound hit $1.40 against the greenback for the first time in three years on Friday, another sign of the dollar's weakness.
  • According to CNBC, Tesla has made $1 billion since purchasing Bitcoin (in paper profits) as the cryptocurrency's price has continued to surge. BTC was trading at $56,257/6797 on Monday, having remained above the $50,000 mark since crossing it last week.
  • Global coronavirus cases were some 111,970,296 on Monday, with over 2,478,000 deaths. The number of daily cases continues to decline as the vaccine is rolled out worldwide and herd immunity may be starting in areas that have been extremely hard hit.
Sari Holtz

Sari Holtz began working at DailyForex in 2011 when she was hired to provide daily news analysis and to manage the daily content. Since then, she has continued to provide regular news items that focus on how political events impact the global economy. She also works directly with dozens of Forex brokers worldwide to ensure that they get their messages across and that traders can find the best broker for their individual needs.

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